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23-05-2024
Changes to Companies House Fees
There have been a number of significant changes in Companies House fees. These changes took effect on 1 May 2024. The last significant change in fees occurred in April 2016.The new fees have been calculated on a ‘cost recovery’ basis meaning that the fees are calculated based on what it costs to provide the services in question. Companies House state that they do not make a profit on their fees.Companies House guidance entitled Companies House fees has been updated to reflect all the Read more..

23-05-2024
Tax credits reminder
We would like to remind our readers that HMRC is currently sending the annual tax credit renewal packs to 730,000 tax credit claimants. HMRC is encouraging recipients to renew their tax credits claim online. HMRC started writing to taxpayers on 2 May 2024 and expects all packs to be with recipients by the 19 June 2024.Renewal packs with a black stripe across the front page are automatically renewed. However, taxpayers must inform HMRC of any changes in circumstances not already reported Read more..

23-05-2024
Reporting expenses and benefits to HMRC
The deadline for submitting the 2023-24 forms P11D, P11D(b) and P9D is 6 July 2024. These forms can be submitted using commercial software or via HMRC’s PAYE online service. HMRC no longer accepts paper P11D and P11D(b) forms. Employees must also be provided with a copy of the information relating to them on these forms by the same date. P11D forms are used to provide information to HMRC on all Benefits in Kind (BiKs), including those under the Optional Remuneration Arrangements (OpRAs) unless Read more..

23-05-2024
VAT reverse charge for builders
There are special VAT reverse charge rules for certain building contractors and sub-contractors. The rules, which came into effect on 1 March 2021, makes the supply of most construction services between construction or building businesses subject to the domestic reverse charge. The reverse charge only applies to supplies of specified construction services to other businesses in the construction sector.The charge applies to standard and reduced rate VAT services:for businesses who are Read more..

23-05-2024
Tax when transferring assets during divorce
When a couple is separating or is divorced it is unlikely that they are thinking about the tax implications of their actions. However, apart from the emotional stress, there are also tax issues that can have significant implications.The Capital Gains Tax (CGT) rules that apply during separation and divorce changed for disposals that occur on or after 6 April 2023. These changes extended the period for separating spouses and civil partners to make "no gain/no loss transfers" up to Read more..

23-05-2024
View your annual tax summary
The Annual Tax Summary is a document provided by HMRC that shows details of the tax you pay and how this is used by government.The Annual Tax Summary shows:your taxable income from all sources that HMRC knew about at the time that it was prepared; the rates used to calculate your Income Tax and National Insurance contributions; and a breakdown of how the UK government spends your taxes - this makes government spending more transparent.HMRC makes it clear that the tax summaries are for Read more..

20-05-2024
Universal Credit changes
Universal Credit claimants working less than half of a full-time week will have to look to increase their hours but will be able to benefit from extra work coach support. These changes will see 400,000 Universal Credit claimants receive more help to progress in work.The changes come as the PM announces once in a generation welfare reforms to help people find work, boost their earnings, and grow the economy.Before 2022, someone could work only nine hours a week and remain on benefits without Read more..

20-05-2024
Childcare funding for under 9-month-olds
In a recent press release the Department for Education confirmed that parents of children from 9 months old can now apply to access government-funded childcare from September 2024, as England’s largest ever childcare expansion continues.From 12 May 2024, eligible working parents of children who will be 9 months old by 31 August can apply to access 15 hours of funded childcare a week - set to benefit hundreds of thousands of families across the country.This is the second step in the Read more..

Latest news

23-05-2024
Changes to Companies House Fees
There have been a number of significant changes in Companies House fees. These changes took effect on 1 May 2024. The last significant change in fees occurred in April 2016. Read more..

23-05-2024
Tax credits reminder
We would like to remind our readers that HMRC is currently sending the annual tax credit renewal packs to 730,000 tax credit claimants. HMRC is encouraging recipients to renew Read more..

23-05-2024
Reporting expenses and benefits to HMRC
The deadline for submitting the 2023-24 forms P11D, P11D(b) and P9D is 6 July 2024. These forms can be submitted using commercial software or via HMRC’s PAYE online service. Read more..

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